Stock analysts at KeyCorp started coverage on shares of Jernigan Capital, Inc. (NYSE:JCAP) in a research report issued on Thursday, October 19th, MarketBeat.com reports. The brokerage set an “overweight” rating and a $24.00 price target on the real estate investment trust’s stock. KeyCorp’s price target would indicate a potential upside of 15.05% from the stock’s current price.
A number of other research firms also recently issued reports on JCAP. Jefferies Group LLC restated a “hold” rating and set a $22.00 price objective (down previously from $23.00) on shares of Jernigan Capital in a report on Tuesday, September 26th. Raymond James Financial, Inc. restated an “outperform” rating and set a $26.00 price objective (up previously from $25.00) on shares of Jernigan Capital in a report on Wednesday, June 28th. BidaskClub upgraded shares of Jernigan Capital from a “hold” rating to a “buy” rating in a report on Thursday, July 20th. ValuEngine downgraded shares of Jernigan Capital from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Finally, TheStreet downgraded shares of Jernigan Capital from a “b” rating to a “c” rating in a research note on Monday, August 21st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Jernigan Capital currently has a consensus rating of “Buy” and a consensus target price of $24.20.
Jernigan Capital (NYSE:JCAP) traded up 0.77% during trading on Thursday, hitting $20.86. 101,018 shares of the stock were exchanged. Jernigan Capital has a 12-month low of $17.01 and a 12-month high of $24.89. The firm has a market capitalization of $292.77 million, a PE ratio of 11.18 and a beta of 0.89. The stock has a 50 day moving average price of $20.57 and a 200-day moving average price of $21.52.
Jernigan Capital (NYSE:JCAP) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.12. Jernigan Capital had a net margin of 185.96% and a return on equity of 9.37%. The company had revenue of $3.10 million for the quarter, compared to analyst estimates of $2.53 million. During the same period last year, the firm earned $0.99 earnings per share. The firm’s revenue was down 3.7% on a year-over-year basis. On average, equities research analysts anticipate that Jernigan Capital will post $1.61 earnings per share for the current fiscal year.
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In other Jernigan Capital news, insider John A. Good bought 5,000 shares of Jernigan Capital stock in a transaction dated Monday, August 7th. The stock was purchased at an average price of $21.65 per share, for a total transaction of $108,250.00. Following the completion of the purchase, the insider now directly owns 217,308 shares of the company’s stock, valued at $4,704,718.20. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Harry J. Thie acquired 1,650 shares of Jernigan Capital stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average cost of $21.25 per share, with a total value of $35,062.50. Following the purchase, the director now owns 17,223 shares of the company’s stock, valued at approximately $365,988.75. The disclosure for this purchase can be found here. Insiders bought 10,600 shares of company stock valued at $222,416 in the last quarter. Corporate insiders own 3.18% of the company’s stock.
A number of large investors have recently modified their holdings of JCAP. Forward Management LLC grew its stake in Jernigan Capital by 174.3% during the second quarter. Forward Management LLC now owns 1,440,000 shares of the real estate investment trust’s stock valued at $31,680,000 after acquiring an additional 915,000 shares in the last quarter. Investment Counselors of Maryland LLC purchased a new position in Jernigan Capital during the second quarter valued at approximately $8,800,000. Uniplan Investment Counsel Inc. grew its stake in Jernigan Capital by 212.5% during the second quarter. Uniplan Investment Counsel Inc. now owns 543,540 shares of the real estate investment trust’s stock valued at $11,414,000 after acquiring an additional 369,588 shares in the last quarter. Ranger Global Real Estate Advisors LLC grew its stake in Jernigan Capital by 201.8% during the second quarter. Ranger Global Real Estate Advisors LLC now owns 494,961 shares of the real estate investment trust’s stock valued at $10,889,000 after acquiring an additional 330,936 shares in the last quarter. Finally, KRV Capital LP purchased a new position in Jernigan Capital during the second quarter valued at approximately $3,516,000. 60.65% of the stock is owned by institutional investors.
About Jernigan Capital
Jernigan Capital, Inc is a commercial real estate finance company. The Company provides capital to private developers, owners and operators of self-storage facilities. It intends to generate long-term returns on development property investments through a fixed rate of interest on its invested capital together with an interest in the positive cash flows of the self-storage development from operations, sales and/or refinancings.
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